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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan's Nomura to book 3.4 bln dlr loss for Oct-Dec quarter: report AFP - Sunday, January 25 TOKYO (AFP) - - Japan's largest brokerage Nomura Holdings is forecast to report a net loss of some 300 billion yen (3.4 billion dollars) for the October-December quarter, its worst in eight years, a report said Sunday. It would be the worst loss since April-June 2001, when the group changed its accounting standards, the Nikkei business daily said. The Nomura group, which felt the brunt of the current financial crisis and became a victim of a pyramid scheme organised by US fund manager Bernard Madoff, is likely to see a loss of more than 400 billion yen for April through December, the newspaper added. In the October-December period, the group's revenue streams dried up amid depressed securities trading, the Nikkei said. Nomura is also trying to book costs associated with the purchase of regional operations of collapsed US investment bank Lehman Brothers, the report said. Nomura said last month it made a net loss of 149.5 billion yen in the six months to September and announced 1,000 job cuts as it struggled to cope with the global economic turmoil. The announcement came after Nomura purchased Lehman Brothers' Asia-Pacific, Middle East and European operations, as well as its Indian IT subsidiaries. The Nikkei said, however, the disposition of the 300 billion yen loss might put Nomura in position for a recovery, boosted by the former Lehman operations. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Obama's tough yuan stance unlikely to sway ChinaAFP - 19 minutes ago India's outsourcing sector faces bleak outlook: analystsAFP - 32 minutes ago Bank-born crisis engulfs workers worldwideAFP - 39 minutes ago In Philippines, even the Church feels financial pinchAFP - 51 minutes ago "Lonely" Thaksin vows to keep fighting for ThailandReuters - 1 hour 11 minutes ago Enlarge Photo Japan's Nomura to book 3.4 bln dlr loss for Oct-Dec quarter: report Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed 'Dogs don't wear condoms,' says Baywatch star Anderson Ring of fire: Indian Ocean to see solar eclipse World crisis deepens as downturn bites in Asia Child matador kills six bulls in Mexico Recession grips Britain for first time since 1991 View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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